October 21, 2013

CI leads $1.8M investment for Yale biomedical firm

Connecticut Innovations said it recently invested $750,000 in New Haven's Precipio Diagnostics, which has agreements with Yale University to evaluate patient samples and produce pathology reports.

The state's quasi-public venture capital arm led the $1.8 million Series B funding round, which also included Ironwood Capital, Enhanced Capital, Kuzari Capital and individual investors.

"We are highly encouraged by the strong traction of the company's services are receiving g in the marketplace and by the company's growth to date," Claire Leonardi, CI's CEO, said in a statement.

Precipio began generating revenue about 18 months ago and now has 14 employees, including several executives who are faculty at Yale's medical school.

Image credit: www.freedigitalphotos.net

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